NovaVision Marketing Agreement with CGM Security Solutions
June 21, 2011
Re: NovaVision Marketing Agreement with CGM Security Solutions
In May 2011, NovaVision signed agreements to exclusively produce and market the products owned by CGM Security Solutions (CGM-SS). Some of the product brands include SecureTRAC® tape, CartonSECURE® Tape, Stretchwrap SECURE® Tape, TRAC® labels, and Topp® Clips. Most of these products are produced by CGM-SS in Staten Island, NY.
NovaVision created a new company (CGM-NV, LLC) to focus on marketing the CGM-SS products.
Both NovaVision and CGM-SS specialize in anti-tampering products and technology, including tamper evident tape and labels.
According to Mike Messmer, VP of NovaVision, "It's a good fit for both companies. We have very little overlap in our customer base, and our product lines are complementary."
NovaVision's flagship products include holograms, security labels and tamper evident tape.
CGM Security Solutions, which is owned by Mr. Erik Hoffer, recently reacquired the assets sold in 2005 to CGM-AST, which encountered financial difficulties. In addition, Mr. Hoffer operates another business in Punta Gorda, Florida, which markets locking bars, cable seals, bolt seals as well as many other specialty cargo security devices. Both of these business units and their combined product lines are included in CGM-NV's marketing efforts.
CGM-NV is 100% owned by NovaVision and is headquartered (and co-located with NovaVision) in Bowling Green, Ohio.
Mr. Hoffer will remain as a product and security consultant to CGM-NV and serve on the Board of Directors.
CGM-NV intends to continue producing security tape and labels in the Staten Island facility through December 2011 at which time the production will be transitioned to NovaVision's facility in Bowling Green, OH.
Please contact me for questions or additional information.
VP Gen Mgr, NovaVision